Question: What happens, do I pay my house payments during the foreclosure? – Ans: No. Not unless you and the bank come to some kind of agreement like a mortgage loan modification and you agree to make the payments on time. Remember they, the lender is in the process of taking it back. The only thing they will accept technically are the total of the fees and costs plus the principle along with accrued interest for payment in full. Recent experience indicates that some lenders will deal on some of that and perhaps roll it into the mortgage.
Categories